Your cover story on tax planning was very informative (MONEY TODAY Basics, 25 January). Even the article on gizmos to save tax was an eye-opener. I never knew my passion for electronic goods could help me save on taxes.
Amit Kulkarni, Vadodara
In matters of taxation, most Indians are ignorant and often uncertain, especially for most part of the financial year. The purpose of our story was to inform and alert readers. Regarding purchase of gizmos to save on tax, there is a catch for the salaried class. Just check on that.
For quite some time I had been looking at investing in property on the outskirts of Pune where I live with my family in an apartment ("Homing in on Hills", 27 January). A home in the hills is a perfect combination of intelligent investment and the pleasure of a serene living. It was very informative.
Ajay Dholakia, Pune
For a middle class person buying a second home in a city is now nearly impossible. Investing in a property in the hills makes sense.
I wish to point out a mistake in one of your calculations under the Upfront section (Mani Bhai, 30 November). In case 6, the given set of figures will give a compound return of 12.8% and not 6.9% as printed. If it is to tally with 6.9%, the return in year 2 has to be -8% and not +8% as given.
N Ramadurai, Trichy
Thank you Mr Ramadurai for pointing out the mistake. In future we will be more careful to ensure that such printer’s devil do not appear in the magazine.
You have given the sneak option of using copied CDs and DVDs (“Financial Resolutions”, 11 January). I wish to protest against this as you are promoting the use of pirated stuff and it does not suit a magazine of your status. Plus the fact that copied Cds damage the player has not been mentioned in your article.
Vishal Chawla, Pune
Thank you for sharing your concern with us. It was not our intention to promote piracy. We specifically used the word copied to avoid any confusion—copying your collection for a friend or relative. MONEY TODAY does not promote the use of pirated CDs/DVDs.
According to reports, government has made up its mind to go for EET (exempt, exempt tax) (“EETing into your returns”, 25 January). Let PPF, etc be modes of investments only — without any tax benefit say at rate of interest of 10% p.a. At present maturity of PPF amount is tax free. Let it continue. The new rules should be applicable for all future investments from a notified date.
Mahesh Kapasi, New Delhi
Thank you. We share your view too.